Comparison of Kraken vs Gate.Io [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Kraken vs Gate.Io comparison!

Your expert: Alejandro Borja

Kraken

Your expert: Xavier Tarrasó

Gate.Io

Main points

Fees

0,16%/0,26%

Earns

Customer service

5/5

0,20%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.5 – Low fees with additional benefits for high-volume traders.

4.0 – Competitive fees with additional benefits for token holders.

Level

0,16%/0,26%

0,20%

Brief explanation

Kraken’s commission structure is designed to be competitive and favorable for both low and high-volume traders. The exchange employs a tiered fee schedule that rewards users with lower trading fees as their trading volume increases over a 30-day period. Fees vary depending on whether you are a maker (creating a new order on the book) or a taker (filling an existing order), with maker fees generally being lower than taker fees to encourage liquidity. While the fees are relatively low for high-volume traders, those trading smaller amounts may find the fees slightly higher compared to other platforms. Additionally, Kraken charges flat fees for fiat deposits and withdrawals, though these can vary based on the method and currency used. Overall, Kraken’s fee structure is transparent, with details readily available on its website, helping users to anticipate and calculate potential trading costs effectively.

Gate.io offers a competitive and transparent fee structure. The platform charges a flat trading fee of 0.2% for both makers and takers, which is slightly below the industry average of around 0.25%. This flat fee structure simplifies the cost calculation for users, regardless of their trading volume. For high-volume traders, Gate.io offers a tiered fee discount system. Users who hold the platform’s native token, GateToken (GT), and opt to pay fees with it can receive up to a 25% discount on trading fees. Additionally, purchasing GT points or reaching higher VIP levels through increased trading volumes can further reduce fees, with potential discounts ranging from 30% to 70%. Deposits on Gate.io are free of charge, which is a significant advantage for users. However, withdrawal fees vary depending on the cryptocurrency being withdrawn. For example, the fee for withdrawing Bitcoin is 0.0005 BTC, which is competitive compared to the industry average. While Gate.io does not support fiat withdrawals, it allows users to deposit fiat currencies through third-party services like Banxa, MoonPay, and Simplex. These services charge their own fees, which can be relatively high. Overall, Gate.io’s fee structure is designed to be fair and transparent, catering to both casual traders and high-volume users with various discount options and competitive withdrawal fees.

Kraken

Security Methods: Kraken's commitment to security is unparalleled, utilizing state-of-the-art security measures such as two-factor authentication, SSL encryption, and cold storage of the majority of assets. This rigorous approach minimizes the risk of hacking and unauthorized access, making it a trusted platform for trading cryptocurrencies.
Reputation and Reviews: Kraken has maintained a strong reputation within the crypto community for over a decade. Its track record of security, user-focused services, and operational resilience has garnered positive reviews from users and industry analysts alike, reinforcing its standing as a reputable exchange.
Transparency: Kraken is known for its transparency in operations, frequently updating users on system upgrades, security measures, and changes in regulatory compliance. This openness builds trust and ensures that users are well-informed about their trading environment.
Trading Volume and Liquidity: Kraken is one of the largest exchanges in terms of trading volume and liquidity. This allows users to execute large trades without significantly affecting the market price, which is critical for both retail and institutional traders.
Possible Regulation: Kraken adheres to regulatory requirements in all jurisdictions in which it operates, enhancing its credibility and reliability. Compliance with these regulations not only ensures the legality of its operations but also provides a layer of security for its users' investments.

Gate.Io

Year Founded: Gate.io was founded in 2013, making it one of the older cryptocurrency exchanges. Its longevity in the market indicates a level of stability and experience in handling crypto assets.
Customer Service: The platform offers 24/7 customer support via live chat, email, and support tickets. While there have been mixed reviews regarding response times, the availability of multiple support channels is a positive aspect for users needing assistance.
Number of Users: The exchange has a substantial user base, with millions of registered users. This large user base reflects the platform's popularity and trustworthiness among crypto traders.
Trading Volume and Liquidity: Gate.io is known for its high trading volume and liquidity, ranking among the top exchanges globally. This high volume ensures that users can easily buy and sell assets without significant price slippage.
Security Methods: Gate.io employs robust security measures, including cold storage for the majority of user funds, two-factor authentication, and SSL encryption. These measures are designed to protect user assets and personal information from potential breaches.

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Direct link to the website

Product selection

Native token

Token GT (GateToken)

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Payward, Inc.

Gate Technology Inc.

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2011

2013

Founder

Jesse Powell

Lin Han

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kraken	FEATURES	Gate.Io
Kraken allows relatively low minimum trade volumes, making it accessible for beginners.	Minimum Trade	Minimum trade size is $10, making it accessible for small investors.
Competitive fees, though slightly higher for low volume traders; discounts for high volume.	Trading and Transaction Fees	Flat fee of 0.2% for both makers and takers, competitive in the industry.
Offers a wide selection of cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Over 1,400 cryptocurrencies available, providing extensive trading options.
Extensive range of trading pairs, though some less popular pairs have lower liquidity.	Crypto-to-Crypto Trading Pairs	Supports a wide range of trading pairs, enhancing trading flexibility.
High transparency about fees, security measures, and operational status updates.	Website Transparency	Good security measures but lacks full transparency in some areas.
Kraken does not offer an exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Gate.io does not currently offer its own exchange card for customers to use for in-store purchases and receive benefits.
Excellent security with a majority of funds held in cold storage; provides peace of mind.	Storage Offering	Utilizes both hot and cold storage, with the majority of funds kept offline.
Offers staking options with competitive rewards, although not available for all assets.	Staking and Rewards	Offers various staking and earning opportunities with competitive returns.
Both platforms are robust and fully-featured, though the interface can be complex for new users.	Mobile App and Desktop	Robust mobile app available on iOS and Android, well-rated for Android users but mixed reviews for iOS.
Customer service is reliable but can experience delays during high demand periods.	Customer Service	Provides 24/7 support via live chat and email, though response times and quality vary.
Efficient deposit and withdrawal processes, though options may vary by region.	Deposit and Withdraw	Crypto deposits are free; withdrawal fees vary by asset, no fiat withdrawals supported.

Key features

Analysis tools

Advanced charting tools, technical analysis

Advanced charting tools, technical indicators

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Kraken Pro exchange

Margin trading, futures trading, staking, Gate.io Earn

Anonymity

Yes

Key points

Available cryptocurrencies

100+

800+

User-friendliness

Kraken features a clean and intuitive interface that is easy for beginners to use. The platform is designed to provide a seamless trading experience, making it easy to buy and sell cryptocurrencies.

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

Value for money

Offers excellent value for money with low trading fees, strong security features, and a wide range of supported cryptocurrencies.

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for all types of investors, from beginners to advanced traders, due to its low fees, strong security features, and wide range of supported cryptocurrencies.

Suitable for traders of all experience levels looking for a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, EUR, CAD, GBP, JPY, BTC

USD, BTC, USDT

Account

Trading

Kraken is known for its high security and wide range of cryptocurrencies. It offers advanced trading tools and competitive fees but can be complex for beginners.

Gate.io offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but can be complex for beginners.

Deposit and withdrawal

Kraken supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees .

Gate.io supports a wide range of deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with competitive fees.

Account opening process

Kraken offers a straightforward and secure account registration process. Users need to submit personal details, verify their identity, and address. The process is fully digital and typically takes less than a day to complete.

Gate.io provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes

Customer Service

Kraken offers comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance .

Gate.io provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

Kraken offers extensive security features, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors.

Gate.io provides extensive security measures, including 2FA and cold storage. It is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

In concluding our comprehensive review of Kraken through Threenvest’s lens, it’s clear that Kraken stands as a formidable player in the cryptocurrency exchange landscape. Known for its robust security measures, wide range of cryptocurrencies, and advanced trading features, Kraken appeals especially to traders who prioritize safety and a diverse portfolio. These strengths are complemented by its deep liquidity and competitive fee structure, making it a preferred choice for serious traders. However, its complex interface and sometimes slow customer service response times during peak periods could pose challenges, particularly for newcomers to cryptocurrency trading. Compared to other exchanges, Kraken’s commitment to regulatory compliance and security is notably strong, positioning it as one of the safer trading environments in an industry fraught with security concerns. On the flip side, its user interface and learning curve may not be as appealing to beginners as some other platforms that focus more heavily on user-friendliness and simple navigation. For users of Threenvest looking to engage in sophisticated trading strategies or those who value a highly secure trading platform, Kraken is undoubtedly a top contender. However, those new to the market might consider starting with platforms that offer more guidance and a more intuitive trading experience.

Xavier Tarrasó

As an expert in cryptocurrency exchanges, I highly recommend Gate.io for its comprehensive trading features and extensive selection of cryptocurrencies. With over 1,400 coins and a wide range of trading pairs, Gate.io offers excellent opportunities for diversifying your investment portfolio. The platform’s robust security measures, including cold storage and two-factor authentication, provide peace of mind for users concerned about the safety of their assets. While the interface may be complex for beginners, its advanced tools make it a powerful choice for experienced traders. Despite some limitations with fiat support, the competitive fees and strong liquidity make Gate.io a top choice for serious cryptocurrency enthusiasts.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.